An oilfield services company, a proxy to profit from Latin America, and a coal stock. ...

LEXINGTON, Ky., Jan. 13, 2026 /PRNewswire/ -- Ramaco Resources, Inc. (NASDAQ:  METC, METCB) Ramaco is proud to announce that U.S. Secretary of Energy Chris Wright has appointed Randall W. Atkins, Chairman and CEO of Ramaco Resources, as a member of the re-established National Coal Council (NCC). Atkins was serving as the last Chairman of the NCC in 2021 when former President Biden allowed the Council's charter to lapse, forcing it to cease operations. The Council's re-establishment by President Trump and S ...

Asia Pacific Equity Research 09 January 2026 This material is neither intended to be distributed to Mainland China investors nor to provide securities investment consultancy services within the territory of Mainland China. This material or any portion hereof may not be reprinted, sold or redistributed without the written consent of J.P. Morgan. China Basic Materials What was missed and what to look forward to in 2026 Our order of preference within Basic Materials for 2026 is copper/gold > aluminum > lithium ...

Thungela Resources Limited ( TNGRF ) is a standalone, South-Africa based thermal coal company since having been spun out of Anglo-American in 2021 where it was the “dirty” coal division of the latter.Always on the hunt for undervalued, promising stocks with a focus on risk and reward. Limited risks and decent to high upside by knowing what one's owning. I strongly believe that the best investment ideas are often the simplest. If contrarian, the better.Analyst’s Disclosure:I/we have no stock, option or simil ...

The Zacks Coal industry is facing multiple headwinds as the use of coal in U.S. thermal power plants continues to decline. Per the U.S. Energy Information Administration (“EIA”), in 2026, demand for coal is projected to decline as usage of renewable sources increases for electricity generation. In addition, given the ongoing energy transition, marked by utility operators systematically phasing out coal assets, coal demand is expected to drop in 2026.Per EIA, coal export volumes are expected to improve in 20 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: Chinese Basic Materials - **2026 Outlook**: Expected stable year for Chinese commodity demand with growth rates ranging from -1.3% to +2.0% year-over-year, improving sequentially from 2H25A [1][24] Core Insights and Arguments - **Demand Growth**: - Chinese copper and aluminum demand projected to grow by 2.0% and 0.8% respectively in 2026E, a deceleration from 1H25A but approximately 3% better than 2H25A [21][27] - Demand for lithium is expected to remain strong due to energy storage systems (ESS) [21] - Cement and steel demand under pressure due to weakened infrastructure activities, though government financing may improve conditions [22] - **Supply Dynamics**: - Solid supply/demand balance for most commodities, but strong pricing in 2025 may lead to changes in supply outlook [2] - Supply discipline is challenged in aluminum, while lithium shows signs of accelerated supply response; copper supply is expected to remain tight [2][17] - Anti-involution policies in oversupplied segments may improve industry capacity utilization by 10% [3] - **Acquisitions and Strategic Shifts**: - Increased acquisitions and asset injections by large state-owned enterprises (SOEs) in coal, steel, and other sectors, reflecting strategic repositioning [4] Commodity-Specific Insights - **Cement**: Positive outlook with expected recovery in capacity utilization from 49% to 60% by end of 2026E due to capacity closures [17] - **Coal**: Stable pricing anticipated due to balanced demand and supply [18] - **Copper**: Continued strong pricing expected due to limited supply growth [17] - **Lithium**: Market expected to tighten in 1H26E before easing in 2H26E, with potential for a balanced market depending on supply responses [17] - **Steel**: Margins expected to remain depressed with slower capacity work [17] - **Gold**: Forecasted price to reach US$4,900/oz by Dec-2026, supported by central bank purchases [20] Important but Overlooked Content - **Investment Ratings**: - Positive ratings maintained for Zijin-H/A, CMOC-H/A, and Anhui Conch-H/A; cautious stance on Ganfeng-H/A and Tianqi-H/A [16] - Upgrades for most coal names to NEUTRAL from Sell, indicating a more constructive view on coal [16] - **Market Dynamics**: - The contribution from the property sector to steel and cement demand is now limited, accounting for only 7-8% [22] - Expectations of flat coal demand driven by stable coal-fired power generation [23] - **Key Assumptions for Demand Estimates**: - Infrastructure investment growth projected at 4% for 2026E, with traditional infrastructure expected to grow by 1% [26] This summary encapsulates the critical insights and projections regarding the Chinese basic materials industry, highlighting both opportunities and risks for investors.

The Trump administration during both its terms has prioritized its efforts on reviving the coal industry by introducing a series of policy changes and executive actions intended to boost coal leasing and production on federal lands. Yet, despite these political moves, coal’s trajectory in the U.S. energy market has followed a different path, shaped more by economic realities than government intervention. Market forces, particularly the rise of cheaper and cleaner energy sources, continue to undermine coal ...

智通财经APP获悉，山西证券发布研报称，全煤种进口价格较去年同期均有较大幅度下降，11月当月各 煤种价格均环比增加，其中动力煤环比涨幅相对更大。煤炭行业反内卷趋势未变，4季度业绩仍有改善 预期，若价格长期高位运行，26年业绩仍具备修复空间。股价下跌强化红利价值，可逢低配置。 山西证券主要观点如下： 进口煤量收缩趋势继续放缓，进口价上涨 进口量方面，1-11月累计增速实现-12.0%，累计进口煤量仍然呈现收缩趋势;进口煤当月同比连续9个月 保持负增速，其中11月进口煤同比降19.88%、环比增5.53%。分煤种来看，四大煤种均呈现单月环比正 增，其中无烟煤环比增速较快。动力煤环比小幅增量主要是因为蒙古和俄罗斯进口量增加;炼焦煤环比 小幅增量主要由蒙古贡献;褐煤环比增量主要由印度尼西亚贡献;无烟煤环比增量主要来自俄罗斯。价格 方面，11月当月全煤种进口价格实现73美元/吨，维持同比回落趋势，11月当月环比增1.42美元/吨。分 煤种看，全煤种进口价格较去年同期均有较大幅度下降，11月当月各煤种价格均环比增加，其中动力煤 环比涨幅相对更大。 11月国内进口煤呈现"量减价增"的特征。过去几年11月往往是进口煤旺季，进 ...

Core Viewpoint - China Shenhua Energy has revised its restructuring plan, excluding the 100% equity interest in National Energy Group E-commerce, while maintaining stakes in other target companies. The total transaction consideration is Rmb133.60 billion, settled with 30% in shares and 70% in cash, leading to an increase in the parent company's shareholding from 69.52% to 71.48% [1]. Group 1: Transaction Details - The transaction consideration amounts to Rmb133.60 billion, with a share issuance price set at Rmb29.40 per share [1]. - The company intends to conduct a private placement of A-shares to raise up to Rmb20 billion in supplementary funding [1]. Group 2: Financial Metrics - The transaction implies P/E multiples of 12.6x for 2024 recurring attributable net profit and 17.0x for annualized net profit for 7M25. The P/B multiple is 1.53x based on attributable net assets of Rmb87.40 billion as of end-July 2025 [2]. - The injected assets generated an annualized ROE of approximately 12% in 2024 and 7% in 7M25, while the company's current P/B stands at 1.9x with an annualized ROE of around 14% in 2024 and 12% in 7M25 [2]. Group 3: Resource Expansion - Following the asset injection, the company's retained coal resources increased to 68.49 billion tonnes (+64.72%), recoverable reserves to 34.5 billion tonnes (+97.71%), and coal output capacity to 512 million tonnes (+56.57%) [3]. - Installed power generation capacity rose by 27.82%, while polyolefin capacity surged by 213.33% [3]. Group 4: Future Projections - EPS for 2024 and 7M25 is likely to increase by 6.1% and 4.4%, respectively, with ROE expected to rise by 1.74 percentage points to 15.8% based on 2024 figures [4]. - The company reported net operating cash flow of Rmb93.35 billion and a net cash balance of approximately Rmb100 billion, with an asset-liability ratio of 25.7% [4]. Group 5: Financial Health - The company's financial statements have shown sustained cash accumulation and low financial leverage, indicating that the proposed restructuring will enhance balance sheet efficiency [5]. - The company is expected to maintain a balance between capital expenditure requirements and its high dividend payout commitment post-restructuring [5].

Going forward, analysts believe some consolidation in the index is likely after the recent rebound. However, the overall tone is expected to remain positive.In today's trade, shares of SJS Enterprises, Federal Bank, RIL, Adani PortsAdani Ports and Special Economic Zone has raised its earnings and cargo volume outlook after completing the acquisition of Australia’s North Queensland Export Terminal. On a proforma basis, APSEZ has revised its FY26 EBITDA guidance to Rs 22,350–23,350 crore from Rs 21,000–22,00 ...